29 Apr Caliber Home Loans – Mortgage Modification Attorney in Queens, New York
Our mortgage modification attorney in Queens, New York has successfully negotiated a loan modification for a client. Our client fell behind on her mortgage payments due to her mother’s ailing health in 2017. Our client had to provide care to her mother and as a result, she had to cut back on her hours at work which in turn reduced her monthly income. The reduction in income was not sustainable for long, and she eventually depleted the savings that helped her stay afloat. In 2017, the bank started its foreclosure lawsuit in Queens County Supreme Court. The client, after being served with the complaint in the foreclosure action did not file an Answer, and the bank ultimately prevailed on summary judgment and then obtained a judgment of foreclosure and sale.
In December 2020, our office was retained, and our mortgage modification attorney went to work fighting to save our client’s house. We had submitted a loss mitigation packet to Caliber Home Loans for review. Caliber Home Loans initially denied our client a trial modification on the basis that they were unable to reduce the monthly mortgage payment with the modified terms. Our office refused to accept such a baseless denial as our client had sufficient income to afford the mortgage payment were it to be modified, even if it was higher than the previous payment.
We filed an appeal to the denial on the basis that the client’s front-end debt to income ratio of 34% established that the modified mortgage payment would be affordable. After approximately ten days, Caliber Home Loans reversed its decision and granted our client a three-month trial period plan (click on this link to see the approval letter). After our client makes three consecutive and timely trial period plan payments, she will be extended a final loan modification. Thereafter, the foreclosure action will be discontinued, and the client will have the opportunity to save her home. This is a huge win for our client!
Call us today if you are behind on your mortgage payments, our mortgage modification attorney in Queens will save your home. Free consultation! Call us at 718-520-0085 or fill out our contact us form and a mortgage modification attorney will call you.